Hennessy Advisors Inc. Trims Stake in MDU Resources Group, Inc. $MDU

Key Points

• Hennessy Advisors Inc. reduced its stake in MDU Resources Group by 8.7%, owning approximately 1.8 million shares valued at about $30 million after selling 171,200 shares in the second quarter.
• MDU Resources Group recently increased its quarterly dividend from $0.13 to $0.14 per share, reflecting a positive change and offering a 3.2% dividend yield.
• MDU reported a loss of $0.06 EPS in its last quarterly earnings, missing estimates, but achieved revenue growth of 1.9% year-over-year.

Hennessy Advisors Inc. trimmed its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,806,207 shares of the utilities provider's stock after selling 171,200 shares during the quarter. Hennessy Advisors Inc. owned about 0.88% of MDU Resources Group worth $30,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in MDU Resources Group by 179.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after purchasing an additional 974 shares during the last quarter. GAMMA Investing LLC lifted its stake in MDU Resources Group by 241.9% during the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after purchasing an additional 1,304 shares during the last quarter. Hilltop National Bank bought a new stake in MDU Resources Group during the second quarter worth about $43,000. Headlands Technologies LLC bought a new stake in MDU Resources Group during the first quarter worth about $48,000. Finally, Garde Capital Inc. bought a new stake in MDU Resources Group during the first quarter worth about $82,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MDU Resources Group

In other news, CFO Jason L. Vollmer bought 5,000 shares of MDU Resources Group stock in a transaction on Monday, September 8th. The shares were purchased at an average price of $16.07 per share, for a total transaction of $80,350.00. Following the acquisition, the chief financial officer owned 344,548 shares of the company's stock, valued at approximately $5,536,886.36. The trade was a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.94% of the company's stock.

MDU Resources Group Trading Up 0.3%

MDU opened at $17.74 on Friday. The business has a 50 day simple moving average of $16.70 and a two-hundred day simple moving average of $16.77. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.72 and a beta of 0.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.71. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). The business had revenue of $351.20 million for the quarter, compared to the consensus estimate of $315.67 million. MDU Resources Group had a net margin of 8.25% and a return on equity of 8.29%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. Analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 11th were issued a dividend of $0.14 per share. This is a positive change from MDU Resources Group's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.2%. MDU Resources Group's dividend payout ratio (DPR) is currently 52.83%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MDU shares. Wall Street Zen lowered MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Jefferies Financial Group raised MDU Resources Group from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research note on Friday, September 19th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of MDU Resources Group in a research note on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

MDU Resources Group Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.

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